Taking positive cues from global market and rising spot demand at the domestic markets, copper prices were higher by 1.40 per cent to Rs 318.75 per kg in futures trading today as speculators raised their bets.
At the Multi Commodity Exchange, copper for delivery in far-month April month contracts spurted by Rs 4.40, or 1.40 per cent to Rs 318.75 per kg in business turnover of 90 lots.
Similarly, the metal for delivery in February contracts traded higher by Rs 4.25, or 1.37 per cent to Rs 314.50 per kg in 663 lots.
Analysts attributed the rise in copper futures trade to a firm global trend where the metal climbed for a fourth day, extending its longest rally since October, as the broadest measure of new credit surged in China, the world's biggest metals user.
Globally, copper for delivery in three month climbed 1 per cent to USD 4,608 a metric tonne on the London Metal Exchange.
